Your mortgage broker can often get you a better mortgage. A quality mortgage broker can often obtain a better mortgage deal, ultimately giving you all the features and benefits that suit your lifestyle, as well as saving you thousands in interest over the long-term.

But be warned, not all mortgage brokers are created equally. Experience, quality products and advice together with a reputation for professionalism are key factors when selecting your broker.

When selecting a mortgage broker here are five essential questions to ask:

How long have they been in the mortgage industry?

What accreditations do they have?

How long have they been with their current company? This can be an indication of how long they will stay around. Brokers that switch regularly often aren’t as good as they claim to be.

How many lenders do they have access to? A broad range of lenders gives you greater flexibility and varied product choice.

Which is their preferred product, and why?

Your mortgage broker should be asking about your needs and requirements before suggesting products and services. Each borrower’s needs are different. Therefore it makes sense that the broker should understand your position before making recommendations.

Uncertainty in the economy has home buyers wary of the conflicting types of information available to them. Apparently we are operating in a two-tiered economy: a booming economy in the mining sector and the flat economy that most of us live in.

This has left many mortgage holders wondering whether they should refinance, lock-in a fixed rate or simply stand still and watch what unfolds.

Uncertainty and confusion exists among mortgage holders. No one really knows what way rates are headed and the proposition of refinancing your mortgage could have as many pitfalls as benefits.

These are some of the refinancing myths:

Myth 1: Low Rate Is The Be All and End All

Borrowers often forget that many of the low rate loans lack other money saving features such as mortgage off-set facilities. Borrowers should also check as to whether the low rate is for the life of the loan or just an introductory period.

Myth 2: Change Lenders For A Better Deal

A common misconception is that you need to change lenders to obtain a better deal. This is a falsehood as your current lender generally will negotiate in order to maintain your business.

Myth 3: Debt Consolidation Is A Good Idea

Many people believe that by consolidating their debts when refinancing that they will be better off in the long run. This is untrue. Often a credit card or personal loan refinanced along with a mortgage will mean that the debt will be paid out over 20 – 30 years rather than 3-5 years. What is often forgotten is, so too will the interest!

If you are considering refinancing, ensure you research what loan and what features are best for you and that you shop around for all your options. Talking to a good finance broker is the easiest way to do this.

Whether you are looking for an investment property, buying your first home or wanting to upgrade the family home it is important to ensure that, when it comes to purchase time, you can actually borrow the funding you require.

There are several ways that a prospective borrower can boost their borrowing power, enabling them to borrow more or at a better deal.

Tips include:

Credit Cards – Sort out your credit cards, pay them out and get rid of them. Lenders take into consideration the number of cards you have and the credit limits on them (even if you have a zero balance). To boost your borrowing capacity you are best off without them.

Protect Your Credit File – Every time you make apply for finance it is recorded on your credit file. Some lenders will decline a loan if a borrower has made application too often in the previous 12 months.

Collect The Rent – If you own an investment property make sure you are obtaining maximum rent. Under charging tenants lowers your cash-flow.

Keep Your Job and Your Residence – Lenders like to see stability. Remain in your existing employment for at least 6-12 months and maintain your current address for a period of time. Lenders don’t like people that switch their lifestyle frequently.

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Testimonials

We have done business with Grant Penrose and RE/MAX Profile for many years. Grant’s attention to detail and need to get the small things right is exceptional. We have sold and bought through his team and have always been left feeling that a great result has been achieved. Grant is an exceptional communicator. Throughout our recent sale process, Grant kept us informed weekly, with written and verbal reports, of progress. Our home was sold under the hammer at auction thanks to Grant. We got the price we wanted, and the marketing costs through Grant were very competitive. We are heading for the Sunshine Coast but if we are in the need of an agent again back in Brisbane, we will be calling Grant. So if you are looking for a great team to sell or to source you a property then Grant and his team should be your first call.

Mark & Amanda Yeates

I want to share with you the integrity Grant and Christina have demonstrated to me over 8 years in association with them performing real estate transactions. Grant and Christina have broken the mould and you can truly set aside all preconceived negative feelings and emotions you have when trusting the sale of your property to them. I have experienced them performing their services at levels unheard of on many occasions and that is why I refer all my sellers to them without hesitation.

--Jennifer

We would like to take this opportunity to thank and compliment our sales agent Juana Bernardo and her team for the excellent job that they did whilst marketing our property at 13 Pictavia Street, Toowong.

Being in a different state, it was comforting to have Juana handle the sale of my house. Juana’s persistence and results-focused approach ensured we got a timely result in a challenging market.
Juana and her Sales Associate were helpful and professional throughout the process, taking a pro-active approach at handling any hurdles or delays that came about. Their customer service was excellent, keeping us aware of developments along the way. Whilst the auction process can be very stressful, with Juana and her team in charge, we felt we were in good hands.
I would not hesitate in recommending Juana to anyone thinking of selling.
Yours sincerely,

Salina and Stewart - Pictavia St, Toowong

What an awesome experience it was selling our home with you. Your professionalism from our initial meeting through to and after the settlement was exceptional.

Mitchell and I both felt fully informed throughout the whole process, keeping us abreast of every detail of the marketing, sale and settlement on a daily basis was greatly appreciated. Your knowledge of the market, advice, and approachable manner allowed us to be in control of negations and achieve a fantastic result that we were both delighted over.

--Lauren and Mitch

Grant Penrose was the real estate agent that sold me my property in Brassall, Ipswich. It is without reservation that I report Grant was a pleasure to deal with.

It should be stated that this was my first home buy and Grant was always ready to answer the myriad of questions I had with regard to my purchase.

It is without hesitation that I recommend Grant Penrose as an intelligent, honest, helpful and courteous real estate salesperson who is prepared to go the extra distance to facilitate a relaxed and trouble free property purchase.

Harry

We appreciate and are very grateful for your diligence, follow up and professionalism in securing our investment unit in Kelvin Grove.
We would have no hesitation in highly recommending your services to prospective clients and look forward to continuing our business with you as our rental Property Managers

Russell and Rae Tewes

From our initial meeting, Grant’s detailed knowledge of current local market trends, advertising strategies and sales options combined with his honest professional advice allowed us to develop a marketing and sales campaign specifically suited to our needs.
His friendly and accommodating nature was reassuring and allowed us to feel at ease during negotiations.
Grant’s follow up of potential buyers was exceptional and we were continually updated on all developments. Throughout the whole campaign Grant’s commitment to securing the best possible result for us was evident and when the house sold at auction, as planned, we couldn’t have been happier with the result.
Peter

When my Mother suggested I use Grant and Christina Penrose from REMAX Paddington to sell my apartment in Bulimba I thought why not give them a try. I spoke with Grant and he arranged to come and inspect my property. When he arrived it was very obvious that he had extensively researched the market for my area, so I felt confident with his proposal. After that it was totally hassle-free for me. He arranged photographers to take shots of the property, organized the marketing and open house and I was blown away with his efficiency, punctuality and friendliness. I never felt for one moment that I was out of the loop, Grant communicated with me constantly. My apartment sold at the first open house. Grant brought me four excellent contracts within a few hours and I accepted one that was fully unconditional and offering more money than I was asking. I believe these results are the ultimate in representation, so I have no hesitation in recommending Grant to anyone wanting an honest, smart and professional real estate agent.

--Shane

I have known Mr Grant Penrose for in excess of 10 years. He has always impressed by his invariable professionalism, real estate knowledge and courtesy, which he combines with an open and welcoming approach.
In placing a significant asset in the hands of a real estate agent, one has to have the confidence that one's goals are fully understood and met. In an industry where effective communication underpins successful sales, Grant has, at all times, had the ability to understand my goals and effectively "walk me through" the process.
I would have no hesitation in recommending Grant to any prospective purchaser or vendor. His honesty and integrity are beyond reproach and his knowledge of the industry detailed and accurate.
Milton

We would like to thank you for looking after the sale of our home in RED HILL.

From the outset you provided a professional service that covered every detail. The presentation of the property and your suggested campaign made our choice to commission REMAX Profile the right one. We appreciated your honesty regarding minor improvements we needed to make to bring our property into today’s market place. This in turn gave us the ability to achieve the result we were looking for. We also appreciated your 1st class presentation at all times and can recommend REMAX highly to any potential future clients. Thank you once again and we look forward to any future dealing with REMAX Profile.